More Upward Pressure for up to 6 to 9 Hours then Update
This upward pressure for the next 6 to 9 hours does not necessarily mean the price action will continue up and up. It simply means I do not see us falling SIGNIFICANTLY for the next 6 to 9 hours. I'll have to provide another update in 6 to 9 hours from now to see what the indicators are showing. Also, we will have a NEW DAILY CANDLE in approximately 5 hours from now. Which means the indicators will update on the Daily, 12h and 6h time frames. We may have a better idea of what may occur when the Daily and other time frames update.
I'll post another chart shortly to show a potential channel we MIGHT remain inside of over the next 6 to 9 hours.
I'll post another chart shortly to show a potential channel we MIGHT remain inside of over the next 6 to 9 hours.
Comment:
Another potential drop within the next 2 hours and 40 minutes when looking at the hourly.
Comment:
Have a look at the margin shorts and margin longs... Shorts appear to be quickly decreasing. At least on BitFinex... The Longs act like they want to turn down. Which has me wondering if they will NOT take it up to that $4,095 to $4,135 range because those currently in Long positions may be getting a bit on edge and are beginning to close their positions.
Comment:
60 minute TF:
